Page 36 - Echo Wang News Today

ByteDance co-founder Zhang Yiming to step down as CEO By Echo Wang Reuters (Reuters) -Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the company disclosed on Thursday. The move, first reported by Reuters, represents the biggest corporate shake-up at ByteDance since its launch in 2012. The company grew to become a dominant social media force in China ...

ByteDance founder to step down as CEO, hand over to college roommate By Echo Wang and Yingzhi Yang Reuters (Reuters) - Zhang Yiming will step down as chief executive of TikTok-owner ByteDance, leaving the task of navigating a rising number of Big Tech regulations worldwide to college roommate, long-time colleague and current human resources head Liang Rubo. In an employee memo on Thursday - first reported by Reuters and later disclosed by the firm - Zhang said the change would "enable me to...

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By Syndicated Content By Echo Wang and Anirban Sen (Reuters) – Swedish vegan milk maker Oatly Group AB, which counts celebrities Oprah Winfrey and Natalie Portman among its backers, raised $1.4 billion in its U.S. initial public offering on Wednesday, a person familiar with the matter said. The company, whose investors also include rapper Jay Z and former Starbucks Corp head Howard Schultz, priced 84.4 million American depositary shares in the initial public offering at $17 eac...

Im not very social: ByteDance founder to hand CEO reins to college roommate Toggle share menu Advertisement 20 May 2021 07:35PM Share this content Bookmark REUTERS: Zhang Yiming announced he will step down as CEO of TikTok-owner ByteDance, saying he lacked the social skills to be an ideal manager and naming his college roommate Liang Rubo as his successor to navigate a rising tide of Big Tech regulations. In a surprise announcement to employees on Thursday, f...

US STOCKS-Wall Street on track to snap 3-day losing streak as technology stocks rise Reuters 2 hrs ago By Echo Wang (For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Popular Searches * Ralph Lauren slides as forecast falls short of estimates * Indexes up: Dow 0.67%, S&P 1.1%, Nasdaq 1.73% (Adds comment, details; updates prices) By Echo Wang May 20 (Reuters) - Wall Streets main indexes rebounded after a three-day slide ...

Wall Street's main indexes rebounded on Thursday after a three-day slide, buoyed by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood.

By Echo Wang (Reuters) - U.S. stocks ended lower on Tuesday as a sharp decline in telecom stocks and weak housing starts data overshadowed better-than-expected earnings from Walmart and Home Depot. AT&T Inc was among the biggest percentage decliners in the benchmark S&P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Discovery Inc. T-Mobile and Verizon Communications also dropped. ...

(AP photo) May 18 (Reuters) - U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart and Home Depot. AT&T Inc shed 5.8%, among the biggest percentage decliners in the benchmark S&P 500. It extended declines from Monday, when the telecoms firm said it would cut its dividend payout ratio as a result of its $43 billion media asset deal with Disco...

U.S. stocks drop after Fed minutes, crypto fall By Echo Wang Reuters (Reuters) - Wall Streets main indexes closed lower on Wednesday after minutes from an April Federal Reserve meeting showed participants agreed the U.S. economy remained far from the central banks goals, with some considering discussions on tapering its bond buying program. The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress...